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Centuri Holdings cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$50.2M in Q3 2026 · −$47.1M over twelve months

Operating cash flow−$27.6M
Capital spending−$22.6M
Free cash flow−$50.2M
Cash / net income-1.0×
Cash conversion cycle21 days

Analysis

In Q3 2026, Centuri Holdings generated −$27.6M of operating cash flow and spent $22.6M on capital projects, leaving free cash flow of −$50.2M.

Over the twelve months to Sep 27, 2026, operating cash flow was $41.3M; the largest uses were acquisitions ($98.8M), capital spending ($88.4M), other investing ($2.0M); besides operations, cash came from net borrowing (+) / repaid (−) ($76.5M), asset & business sales ($61.9M); the cash balance rose by $27.3M.

Operating cash flow was −$27.6M against net income of $26.9M — -1.0× profit, less cash than reported earnings, worth checking against working capital. The largest differences: contract assets −$63.4M, depreciation & amortization +$35.0M, stock-based pay +$2.2M.

Its cash conversion cycle was 21 days (receivables 37 + inventory 0 − payables 16).

Free cash flow

Centuri Holdings: free cash flow by quarterCenturi Holdings: free cash flow by quarter$27.8MQ4 2024−$7.7MQ1 2025−$48.5MQ2 2025−$18.4MQ3 2025$66.3MQ4 2025−$55.3MQ1 2026−$7.9MQ2 2026−$50.2MQ3 2026
Operating cash flow less capital spending.
Centuri Holdings: operating cash flow against capital spendingCenturi Holdings: operating cash flow against capital spendingOperating cash flowCapital spending$61.0M$33.2MQ4 2024$16.7M$24.4MQ1 2025−$27.7M$20.8MQ2 2025$5.2M$23.6MQ3 2025$83.9M$17.6MQ4 2025−$35.0M$20.2MQ1 2026$20.0M$27.9MQ2 2026−$27.6M$22.6MQ3 2026
Latest (Q3 2026): Operating cash flow −$27.6M, Capital spending $22.6M.

Capital allocation, year by year

Centuri Holdings: where the cash came from (up) and went (down), by fiscal yearCenturi Holdings: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsDividendsFY2022: Operating cash flow $94.6MFY2022: Net borrowing −$27.3MFY2022: Asset sales $12.5MFY2022: Capital spending −$130MFY2022: Dividends −$15.0M$107MFY2022FY2023: Operating cash flow $167MFY2023: Net borrowing −$18.8MFY2023: Asset sales $11.8MFY2023: Capital spending −$107M$179MFY2023FY2024: Operating cash flow $158MFY2024: Net borrowing $31.7MFY2024: Shares issued $328MFY2024: Asset sales $10.0MFY2024: Capital spending −$99.3M$528MFY2024FY2025: Operating cash flow $78.1MFY2025: Net borrowing −$35.8MFY2025: Shares issued $251MFY2025: Asset sales $44.0MFY2025: Capital spending −$86.3MFY2025: Acquisitions −$45.8M$373MFY2025
Over these 4 years operating cash flow totalled $498M; the largest uses were capital spending ($422M) and net borrowing ($82.0M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$42.0M
Debt$804M
Net debt$762M
Due within a year$29.5M
Cash runway3 months

Centuri Holdings is burning cash: its operations consume cash, a free cash flow of −$201M a year at the current rate against $42.0M of cash and investments: a runway of about 3 months; $29.5M of debt also comes due within a year, which would need refinancing or new money before any new financing.

Centuri Holdings: debt maturities by year (FY2025)Centuri Holdings: debt maturities by year (FY2025)$29.5MYear 1$9.2MYear 2$1.1MYear 3$637KYear 4$91.6MYear 5$616MAfter year 5
Principal due in each year as disclosed in the annual report, against $42.0M of cash and investments now.

Where the cash came from and went

Centuri Holdings: sources (+) and uses (−) of cash, Q3 2026Centuri Holdings: sources (+) and uses (−) of cash, Q3 2026Net borrowing (+) / repaid (−)$90.6MAcquisitions−$51.6MOperating cash flow−$27.6MCapital spending−$22.6MAsset & business sales$19.9MOther financing−$6.9MCash drawn (+) / kept (−)−$1.6MExchange rates−$138K
Centuri Holdings: sources (+) and uses (−) of cash, TTM to Q3 2026Centuri Holdings: sources (+) and uses (−) of cash, TTM to Q3 2026Acquisitions−$98.8MCapital spending−$88.4MNet borrowing (+) / repaid (−)$76.5MAsset & business sales$61.9MOperating cash flow$41.3MOther financing$37.1MCash drawn (+) / kept (−)−$27.3MOther investing−$2.0MExchange rates−$269K

From profit to cash

Centuri Holdings: net income to operating cash flow, Q3 2026Centuri Holdings: net income to operating cash flow, Q3 2026Net income$26.9MDepreciation & amortization$35.0MStock-based pay$2.2MDeferred taxes$21KGains on disposals−$2.0MContract assets−$63.4MOperating cash flow−$27.6M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202637—1621
Q2 202635—1520
Q1 202642—2220
Q4 202532—2012
Q3 202529—1613
Q2 202529—1712
Q1 202540—2120
Q4 202434—1717

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026−$27.6M−$22.6M−$51.6M$90.6M—−$1.6M−$50.2M
Q2 2026$20.0M−$27.9M−$1.4M−$4.1M—$19.9M−$7.9M
Q1 2026−$35.0M−$20.2M—−$2.0M—$66.3M−$55.3M
Q4 2025$83.9M−$17.6M−$45.8M−$8.1M$251M−$112M$66.3M
Q3 2025$5.2M−$23.6M—−$77.2M—$12.2M−$18.4M
Q2 2025−$27.7M−$20.8M—$67.9M—−$13.1M−$48.5M
Q1 2025$16.7M−$24.4M—−$18.4M—$33.8M−$7.7M
Q4 2024$61.0M−$33.2M—−$394K−$300K$3.4M$27.8M

Centuri Holdings: income statement and cash flow

Centuri Holdings, Q3 2026: revenue $1.2B (+40% year over year), operating margin 5.1%. The chart follows the revenue to costs, profit and cash.

Centuri Holdings: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.